M+ Online Morning Market Buzz - 27 Apr 22

Dow Jones: 33,240.18 pts (-809.28pts, -2.38%)
⬆ Resistance:  36300
⬇ Support:  32600

FBM KLCI: 1,596.68 pts (+6.70pts, +0.42%)
⬆ Resistance:  1640
⬇ Support:  1560

HSI Index: 19,934.71 pts (+65.37pts, +0.33%)
⬆ Resistance:  21700
⬇ Support:  19400

Crude Palm Oil: RM6,400 (+RM77, +1.20%)
⬆ Resistance:  6940
⬇ Support:  5980

Brent Oil: $1,596.68 (+$6.70, +0.42%)
⬆ Resistance:  112.00
⬇ Support:  97.50

Gold: $1,905.51 (+$7.68, +0.40%)
⬆ Resistance:  2000
⬇ Support:  1860

M+ Online Technical Focus - 27 Apr 22
Malayan Cement Bhd: Leading cement player

Trading Catalyst
• Incorporated since 1950 and is now positioned as one of the leading cement players in Malaysia.
• Elevated building material prices owing to the supply chain disruption and improving demand may keep margins intact.
• Leveraging onto the acceleration of Klang Valley MRT Circle Line (MRT 3) with an estimated construction cost of RM31.0bn alongside with other mega-infrastructure construction projects.
• Technically, traders may anticipate for a potential flag-formation breakout above RM2.82 to target the next resistances at RM2.95-3.14 with long term target set at RM3.30.

Technical View

(i) MCEMENT (S: RM2.63, R: RM2.95-3.14, LT TP: RM3.30, CL: RM2.62)

S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss

Errata on CPO & Brent oil prices

M+ Online Morning Market Buzz - 27 Apr 22

Dow Jones: 33,240.18 pts (-809.28pts, -2.38%)
⬆ Resistance:  36300
⬇ Support:  32600

FBM KLCI: 1,596.68 pts (+6.70pts, +0.42%)
⬆ Resistance:  1640
⬇ Support:  1560

HSI Index: 19,934.71 pts (+65.37pts, +0.33%)
⬆ Resistance:  21700
⬇ Support:  19400

Crude Palm Oil: RM6,477 (+RM77, +1.20%)
⬆ Resistance:  6940
⬇ Support:  5980

Brent Oil: $101.70 (+$0.18, +0.18%)
⬆ Resistance:  112.00
⬇ Support:  97.50

Gold: $1,905.51 (+$7.68, +0.40%)
⬆ Resistance:  2000
⬇ Support:  1860

Source: Bloomberg, M+ Online

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